American Express Faces Growth Challenges, Synchrony and Capital One Emerge As Potential Alternatives: BofA Analyst

B of A Securities analyst Kenneth Bruce downgraded American Express Co AXP from Buy to Neutral with a price target of $263. The stock price slid after the rerating. Given the potential for subdued billings volume growth and current premium valuation, Bruce sees limited incremental upside for the stock. Also Read: American Express Q2 Earnings: CEO Raises Annual Profit And Marketing Spend Outlook After Q2 Profit Beat While the analyst maintained a favorable view of American Express's long-term execution and s ...